This disclosure relates generally to online payment transactions and, more specifically, to systems and methods for managing consumer savings during credit card transactions.
In some countries, such as the United States, many consumers struggle with saving portions of their income for a variety of reasons. Some consumers may save parts of their household earnings through payroll deductions, but most of these types of savings are positioned toward retirement rather than for nearer term needs. As such, typical households spend most or all of their income as they earn it, and may not have unrestrained access to cash for unexpected needs that arise.
In contrast, many consumers are in the habit of purchasing goods and services with payment cards such as credit cards. Payment cards have become a convenient means to avoid carrying cash, and the extension of credit by issuing banks gives consumers a mechanism to purchase goods and services they might not otherwise be able to immediately afford. As such, consumers are regularly conducting payment card transactions, but are not regularly saving portions of their income.